Rouyn Mining Resources, which traded 15,300 shares and gained 10 cents to $1.85, has announced the discovery of new reserves, north of the Main zone, at the Francoeur gold property near Rouyn-Noranda. More drilling is planned. Rouyn Mining and project partner LAC Minerals plan to start milling stockpiled ore in June at a LAC-owned mill in Malartic, Que. Trading 136,200 shares, LAC slipped 75 cents to $11.38.
Among the week’s leaders was Tandem Resources, which is involved in an exploration venture with ASE-listed Storimin Exploration at the Moss Twp. gold project in northwestern Ontario. Tandem climbed 2 cents to 31 cents on a volume of 414,300.
Mazarin Inc., exploring for graphite near the Quebec-Labrador border, was a volume leader with 457,900 shares changing hands; its stock closed unchanged at 60 cents . Stratmin Inc., which began producing graphite north of Montreal earlier this year, traded 365,100 shares and advanced 7 cents to $1.40.
Encouraged by the results of a 49-hole drilling program early this year on the Grevet M zinc property in Quebec’s Matagami area are VSM Exploration and French- owned Serem-Quebec. Work has focused on two horizons; in addition to zinc, values of copper, silver, gold and lead have been uncovered. VSM moved up 1 cents to 53 cents on 120,600 shares.
Reserves (all classes) at the Goldstack gold project west of Val d’Or, Que., have been increased to about 1.2 million tons, Sphinx Mining reports. The company says it recently added 500,000 tons grading 0.2 oz gold per ton above 1,500 ft to bring the reserve tonnage up to that figure. Sphinx gained 5 cents to $1.35 on 26,600 shares.
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